Amro Partners and Falco Capital have refinanced four operational student housing assets in Spain via a €70 million investment loan from Nuveen Real Estate, one of the largest real estate investment managers in the world with $149 billion of assets under management.
The loan represents a major vote of confidence for the Spanish PBSA sector, which continues to grow in scale and depth. Nuveen Real Estate was attracted by the sector-leading green credentials of the portfolio, comprising projects in Madrid, Valencia, Seville and Pamplona, totalling 1,055 student beds. Amro Seville, which opened in 2022, was Europe’s first PBSA project to be awarded BREEAM Outstanding, WiredScore Platinum and Fitwel 3* certification, followed by Valencia, Madrid and Pamplona which opened in 2023 achieving the same sector-leading ESG standards.
Managed under the Amro Estudiantes student housing brand, all four assets are performing strongly and the portfolio is forecast to be fully stabilised by the 2024/25 academic year.
Source: press release sent on the 28th of February, 2024